My personal opinion is: if you are determined to scalp, don't be shy to ask brokers about their scalping tolerance before signing up with them.
Scalping is a great way to trade if you know how to scalp right. You would also need to find the best spread possible for the currency pair you'd like to use for scalping.
Usually traders go with EUR/USD, however if you find a good offer on other pairs why not try them as well.
Anyway, it all boils up to a particular broker that will really allow you to scalp without restricting you in any manner.
Here is a list of Forex brokers that allow scalping. Quite a good example that may help you to start with your own research.
Good luck and happy scalping in Forex!
Sunday, February 17, 2008
Sunday, January 27, 2008
Forex Tip - set your Stop right
When Forex traders write a set of trading rules, some of them like to determine a fixed amount of pips for their exit strategy. For example, set S/L to 35 pips. Here where a negative adventure is born.
Why would you assign a stop to this amount? Some of you may say: "Because according to my strategy plan it is safe..." This is in fact a delusion.
An experienced trader will tell you that only market can dictate rules. If you are in the market, you have to adjust to its rules.
Fixed stops are rigid, and they are culprits of early and unnecessary exits, not to mention losses.
What Forex traders should do instead of setting fixed stops:
- find logical and obvious support/resistance level;
- calculate the actual cost of the stop if placed at that level;
- estimate your target goal;
- find out risk/reward ration and whether you want to accept it;
- enter a trade or pass on.
It is that simple. From now on you may forget about your pre-defined stop rules and focus on ways to determine accurate support/resistance levels.
Clear sky and high profits!
Why would you assign a stop to this amount? Some of you may say: "Because according to my strategy plan it is safe..." This is in fact a delusion.
An experienced trader will tell you that only market can dictate rules. If you are in the market, you have to adjust to its rules.
Fixed stops are rigid, and they are culprits of early and unnecessary exits, not to mention losses.
What Forex traders should do instead of setting fixed stops:
- find logical and obvious support/resistance level;
- calculate the actual cost of the stop if placed at that level;
- estimate your target goal;
- find out risk/reward ration and whether you want to accept it;
- enter a trade or pass on.
It is that simple. From now on you may forget about your pre-defined stop rules and focus on ways to determine accurate support/resistance levels.
Clear sky and high profits!
Thursday, December 13, 2007
Found Forex scalping systems free!
Yeup, I'm now there reading and testing the ideas.
Scalping Forex is a great thing if you found the right approach to it.
Good luck everyone and enjoy the website!
Forex scalping systems
Cheese ~C:>
Scalping Forex is a great thing if you found the right approach to it.
Good luck everyone and enjoy the website!
Forex scalping systems
Cheese ~C:>
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